Commentary

Tim Quast
Traders Magazine Online News

We're All HFTs Now

In this guest commentary, author Tim Quast looks back at the history of HFT and how the market has evolved to where many firms now fit the definition of high-frequency trader.

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May 31, 2004

Cantor's eSpeed Raids Bloomberg

By Staff Reports

Kevin Foley, a veteran trading industry executive most recently working with Bloomberg Tradebook, has joined eSpeed, a move that has generated a buzz in trading circles.

Foley, who had been serving as CEO at Bloomberg Tradebook, has been named president of eSpeed. Foley will oversee the creation and expansion of eSpeed's foreign exchange, mortgage-backed securities and equities platforms.

Foley's new boss, Howard Lutnick, Chairman and CEO of eSpeed, said Foley will "define the next generation of trading technology for the global capital markets." Foley also will be working on promoting the use of eSpeed's software and proprietary products.